CFOs are capable people. Sometimes, when a CFO is actively looking for their next opportunity, they are less selective in the type of company or CFO role that they choose. When they make a career choice that is not appropriate for them, they can spend years trying to repair the choice they made.
2013 has just started, and already there is new CFO oriented research that can help CFOs and the companies that hire them. Today’s CFO: While profile best suits your company? (Note: there is no charge for the report, but registration is required to download) by McKinsey & Company, identifies four profiles of today’s CFO:
- The finance expert
- The generalist
- The performance leader
- The growth champion.
The McKinsey report, authored by Ankur Agrawal, John Goldie, and Bill Huyett, identifies which companies can best benefit from each of these profiles.
Agrawal et al. do realize that most CFOs do not fit precisely into each of these profiles, and have provided questions that CEOs and Boards should ask when beginning their search for their next Chief Financial Officer.
As an executive search specialist helping companies hire their next CFO, I find the report clear and concise. Reading this report can help CFOs better position themselves for the remainder of their career, and help CEOs and Boards hire the right person they need in the CFO chair.
What type of CFO are you?
Ken Tudhope says
Thanks for this information. It will help CFOs distinguish themselves and will help hiring executives thoughtfully decide who to hire. Could also help development. Do you see CFO who over time evolve from one type to another or is it in the DNA?
Keep these blogs coming!
Samuel Dergel says
CFOs can certainly evolve, but only if they are aware where they are and know where they want to go. Working with the right CFO Coach can certainly make a difference.
CFOs have to change hats at different business situations, sometimes as a compliance expert, some times as a risk management specialist and mostly remain a business strategist (generalist). Hence, the role demands them to be flexible, agile and multi-talented. A CFO needs great PR skills to keep professional relationship with all the stake holders and maintain high integrity.